AXA Wealth announced yesterday approximately 100 redundancies across the business as a result of the completion of Retail Distribution Review (RDR) delivery, stabilisation of the Elevate platform and the largely completed separation from Friends Life.

Whilst AXA Wealth is performing well compared to its competitors, the market remains challenging, as some individuals hold off investing in uncertain economic times.

Unite in AXA have been fully consulted about the changes to the business and has worked with the company to minimise the impact on staff, especially the number of compulsory redundancies, through redeployment and voluntary redundancy opportunities.

Any member impacted should speak to their local union rep about any concerns they may have or if they need advice.

Forty-seven roles are being lost in the IFA sales area of AXA Wealth as part of the ongoing business transformation. The union was fully consulted on the changes and is optimistic, given AXA Wealth‘s record, that many of the individuals impacted will be able to be redeployed should they wish.

Unite in AXA is fully aware of the dangers of change fatigue in the ex-Life side of the business and continues to stress the need for the people impact to be kept as low as possible to enable staff to feel secure and devote their energies to helping AXA Wealth hit its 2015 target.